Montenegro, exclusive: Interview with Flavio Bianco, Chief Financial Officer of Montenegro Power Utility Company, Revenues of the company record a steady growth trend.

, SEE Energy News

Revenues of the company record a steady growth trend. New investments will contribute to increasing the EPCG efficiency. We expect significant structural changes in the financial sector. During 2014th will be centralized the cash management and will be updated the procurement structure and invoices payment. We have to take advantage of a good opportunity and become outstanding international “player” in the Balkans.

The previous 2013th was one of the most successful productive years in EPCG. How did this fact reflect in the financial results for the previous year?

EPCG financial report during the past year showed a very positive trend. Total income has exceeded budget for 6.7 percent and was 5.3% higher compared to 2012th. Expected earnings before calculation of interest, taxes, depreciation and amortization (EBI TDA), and also cash flows are better than last year and it will confirm positive trend in revenues.

What are your expectations for 2014th?

During the projections for the company budget for 2014th, we took into account the positive impact of revenue and profit in the previous year. New investments and plans of reorganization costs included in the budget, especially those related to the FC distribution, will increase the efficiency of electricity production and confirm the positive trend that was present in 2013th.


In addition to RAE decisions on the fees introduction for the transmission capacity use to electric generators, KAP debt and the debt of other companies and households, what are other challenges that our company will face with in the future?

EPCG expects inevitable and significant change in the coming years. In addition to the factors that You have already mentioned, it is important to emphasize that ahead of us is the imminent separation of Distribution (which will also functionally affect 2014th), then the new organization of Sector for the energy management, which is now the only responsible for the production of “Piva”. There are also projects that are currently analyzed as part of a long-term investment company plan. If would be confirmed their profitability will be forwarded to the relevant authorities for approval.

New control systems are set to a higher level of monitoring systems of financial operations.

Are you planning any other projects that have aim to relax the company financial operations?

Quality planning and goal control of every industrial company in the area of ​​financial management. That is why we in the EPCG financial sector work on new solutions. In this sense, we expect the implementation of new certain projects in 2014th will improve financial operations, among other things, relate to the centralization of cash management and a new procurement structure and invoices payment.

Source; Serbia Energy See Desk

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